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business (factors that increase globalisation (reduced cost of transport,…
business
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designing mix
design= how does the product look, feel, look, taste ?
cost= can the product be made for the right, price, so a profit can be ?
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skimming prices- A product is priced high to begin with as it has a desirability factor that will mean customer will want it when it is new. The price can be lowered later on.
penetration pricing- this means setting prices really low for a new product/service to encourage sales and to persuade customers to try the product for the first time.
cost-plus pricing- is worked out by calculating the total cost to produce the product or service and then profit is added on top.